The updated IPCC report released in August of 2021 synthesizes over 14,000 peer-reviewed studies on the science of our climate, and its findings are stark: “unless there are immediate, rapid and large-scale reductions in greenhouse gas emissions, limiting warming to close to 1.5°C or even 2°C will be beyond reach.” Achieving these reductions will require “a massive reallocation of capital.”

In spring of 2019, the head of the Bank of England, Mark Carney, and the Governor of the Bank of France, François Villeroy de Galhau, released a joint letter stating that the global financial system faces an existential threat from climate change: Physical damage from weather-related events, climate-driven displacement, the health impacts of global warming and the risk of climate-inspired systemic shifts all threaten the global financial system.

To address these concerns, 350 Colorado is running campaigns focused on defunding climate disaster, including working to advance state-wide public banking as a more sustainable alternative banking model, calling on JPMorgan Chase to stop funding extreme fossil fuel projects to the tune of $317 Billion since the 2015 Paris Climate Agreement, urging cities throughout Colorado to stop banking with wall street banks that are funding the climate crisis, calling on Colorado’s pension fund, PERA, to divest from fossil fuels, and working in coalition with groups nationally and internationally to call out the top financiers of the climate crisis.

Want to get more involved? Join the Defund Climate Disaster/Divest-Invest Committee to receive ongoing action alerts and stay up to date with campaign planning.

How Can You Take Action?

Want to learn more about the role banks play in climate change? Check out this webinar. 

 

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